My initial plan was to purchase enough rentals to help offset some of the mortgage of my future home in LA.

Hey Titus, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

I am having difficulty figuring out how to use the numbers here to see whether i cut my losses or proceed knowing some major capex work could be done after renovation, so hopefully no major expense in the near to medium term, and all the potential of the area in price growth and rental growth.  

Long term rental hold. 20+ years.In Texas, 2 story house with plywood upstairs. 

There are some lenders that will loan on the STR rental amount.

Quote from @Matthew Banks: It shouldn't be that hard with five rentals.

I want to do long-term rentals to section 8. 

I am in the middle of renovating my first long term rental and I need new windows for the upstairs unit (it is a top bottom duplex).

Ask other people how they handle rental  payments.  

i bought a property last year to use as a Short Term rental in PCB. happy with my efforts this first year. i do not say as an Airbnb, as i got very few ABB rentals last year, mostly VRBO and direct booking.